The US economy pumped out a solid 223,000 net new jobs in April, rebounding modestly from a dismal March, the Labor Department reported Friday.
The jobless rate fell to a seven-year low of 5.4 percent, down 0.1 percentage point from the previous month.
The gains were roughly in line with expectations after March`s sharp fall in job creation. But the overall picture of the labor market was little-changed, still showing only slight signs of tightening.
The number of unemployed Americans was virtually unchanged at 8.5 million, as was the labor force participation rate, at 62.8 percent, compared with above 66 percent before the 2008-2009 recession.
Also barely changed was the number of people forced to accept part-time jobs, 6.6 million, and average wages, up a bare 0.1 percent in the month and just 2.2 percent from a year ago.
